Entrepreneurship and competition are always good for a developing industry, seeing as how they urge people to become more assertive, innovate and become more customer-friendly. However, in industries that require a more substantial investment, it was incredibly hard for a small business to thrive since their larger counterparts offered services they could not match. For ages, the construction industry was the epitome of this notion but then, recently, the trend of tech-startups showed promise of changing all of this once and for all. Here are a few ways in which this is supposed to work.
1. Real-time visualization tools
The first major upset that these startups introduced into the world of the construction industry were real-time visualization tools that allow clients, engineers and contractors to inspect the building before it’s even made. With the help of animation engines such as Unreal Engine 4, AR and VR tools, as well as 3D modeling software options, tech-startups can now resolve most pressing matters long before they’re even made possible, which means massive savings in terms of both effort and resources. It is also great as a real estate tool, due to the fact that it can present a completed apartment before anyone invests in it, therefore avoiding any complications that might happen later on.
2. Modern scheduling options
Another innovation that some of these startups introduced was the ability to track progress online. Unless a client is determined to spend most of the time on the construction site, they really have no other choice but to hope for the best. Sure, the contractor has a plan, an agenda and a schedule they keep track of. However, this is usually not the case with the client. In this way, a company can also create, assign and even prioritize tasks, as well as notify their crews of this on a moment’s notice. Naturally, progress (even in form of photos and videos) gets constantly uploaded on a reliable platform for each party with adequate authorization.
3. A greater level of collaboration
One more thing that tech-startups seem to understand better is the hyper-connectivity of the present-day business world, regardless of the industry. Namely, they understand that in order to become more appealing to their clients, all they have to do is excel at a single feature and then market it as strongly as they can. For instance, a Queensland construction tech-startup can accept even a job they lack the machinery to perform, for one simple reason -they can always outsource it. There’s nothing easier for them than to find an agency offering crane hire in Brisbane and establish temporary collaboration with them.
4. Safety and equipment management
Since the dawn of our civilization, the construction industry was considered as a high-hazard one since it A) requires operating on great heights, B) uses sharp tools and heavy machinery (as of the last century) and B) it involves working around huge amounts of raw materials and debris. That being said, the issue of safety is an incredibly important one, which is yet another field in which tech-startups have a new angle. By using a real-life reporting and tracking system, they can provide actionable tips and understand even some of the hidden hazards of the construction site.
5. Automated performance dashboards
In order to advance, one must first understand the dynamics of the industry they’re in. Monitoring progress over a single project or even several of them might not be enough to reveal any major issue. With an adequate performance-tracking software, you can easily remedy this issue and even completely automate the creation of these dashboards. This particular trend could, in time, move the entire industry forward, not just give these startups a slight boost.
6. The benefits of smart pre-construction
At the end of the day, with the help from the internet of things (IoT), we might get a much smarter pre-construction stage. This means a better-organized supply system. Additionally, it entails more efficient tool acquisition and even a better overall market intelligence. The total cost of ownership (TOC) is probably one of the most underrated factors when it comes to the overall cost of the construction. With the help of the internet of things, that is now implemented by a substantial number of these tech startups, we could soon see a proper revolution in this field.
As you can see, competition and technology once again prove to be a winning combination when it comes to the overall industry development. With the current state of both construction industry (lack of interest when it comes to the workforce) and the lack of demand (staggeringly low rate of millennial homeownership), this innovation is more than welcome.